China’s shipbuilding winter of discontent has hit new lows with latest figures showing that in November the nation’s yard contracted just 620,000 dwt of new orders, its lowest total since May 2009, just after the global financial crisis. The China Association of National Shipbuilding Industry (CANSI) said November’s figures were down 84% year-on-year.
In the first 11 months of this year, China's new orders declined by 49.4% year-on-year to 17.04m dwt and its delivery volumes dropped by 18.2% to 50.55m dwt.